William D. Morean, Jabil Chairman to Retire

  William D. Morean, Jabil Chairman to Retire

           Son of Jabil Founder Leaves Legacy of Empowered Culture

Business Wire

ST. PETERSBURG, Fla. -- October 18, 2012

Global electronics manufacturing services provider Jabil Circuit, Inc. (NYSE:
JBL) today announced that its Chairman of the Board, William D. Morean, will
not stand for re-election to the Board at the company’s annual meeting of
shareholders in January 2013. The Board also announced that it anticipates
that current President & Chief Executive Officer Timothy L. Main will be
appointed Chairman immediately following Morean's departure. Main will remain
President & CEO until March 2013 as part of a planned and orderly executive
succession.

In addition, the Jabil Board announced that Chief Operating Officer Mark T.
Mondello was nominated to stand for election to join the Jabil Board of
Directors in January 2013 and will succeed Main as CEO in March 2013.

“On behalf of the Jabil Board, our employees and our shareholders, we thank
Bill for his leadership, passion and dedication to Jabil over the past 35
years. We are proud of our progress and our accomplishments, including the
fact that since going public in 1993, Jabil is just one of five Fortune 500
companies to post a compounded annual growth rate in revenue and earnings
above 25 percent,” said Thomas A. Sansone, who served as Jabil’s President
from 1988 to 1999, and has since served as Vice Chairman of Jabil’s Board of
Directors.

William E. Morean and James Golden founded the electronics assembly repair
business in 1966 in Detroit, Michigan, combining their first names to create
the name Jabil. Bill took over the company in 1978. At that time the company
had less than $700,000 in annual revenues, no automated equipment and little
capital to invest. In 1979 Bill won an award of business with AC-Delco and bet
the company on the success of the program. Bill recruited Tom Sansone to join
the company in 1983. The two teamed to create a unique culture of empowerment
and accountability that is still a vital part of the company’s culture today.
In the process, they laid the foundation for the company’s long-term success.

Today, Jabil is the third largest EMS provider with over $17 billion in
revenue and more than 140,000 employees worldwide. Sixty global operations
from the Americas, Asia & Europe, design, build and ship approximately $60
million per day of products such as single-use devices for the healthcare
industry, wind-turbine engines for the energy market, innovative materials
technologies for mobility products and computing products. “Building this
business and watching it grow and prosper over the years has truly been an
inspirational experience that I will always cherish. And, this Jabil
management team has made it easy to have success,” said Morean. He continued,
“I’m sure my Dad would be amazed to see the cultural values of accountability
and empowerment intact in the global powerhouse that Jabil has become."

“Bill’s vision of enabling employees to proactively help our customers design,
build and take their products to market quickly and affordably remains firmly
embedded in the Jabil culture. One of the great privileges of my life was to
take over this leadership role from Bill. I was provided a unique platform
from which to lead,” current Chief Executive Officer & President Timothy Main
said.

“We have maintained an amazing culture, which was initially authored by our
current Chairman Bill Morean and Vice Chairman Tom Sansone. Jabil’s culture is
truly a differentiator and a catalyst to our success,”  added incoming CEO
Mark Mondello.

About Jabil

Jabil is an electronic product solutions company providing comprehensive
electronics design, manufacturing and aftermarket product management services
to global electronics and technology companies. Offering complete product
supply chain management from facilities in 29 countries, Jabil provides
comprehensive, individualized-focused solutions to customers in a broad range
of industries. Jabil common stock is traded on the New York Stock Exchange
under the symbol, “JBL”. Further information is available on Jabil’s website:
jabil.com.

This news release contains forward-looking statements. These statements are
based on current expectations, forecasts and assumptions involving risks and
uncertainties that could cause actual outcomes to differ materially. These
risks and uncertainties include, but are not limited to, factors that we may
not have currently identified or quantified and other risks, relevant factors
and uncertainties identified in our Annual Report on Form 10-K for the fiscal
year ended August31, 2011, subsequent Reports on Form 10-Q and Form 8-K and
our other securities filings. Jabil disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

Contact:

Jabil Circuit, Inc.
Investor & Media Contact:
Beth Walters, 727-803-3349
Senior Vice President, Communications and Investor Relations
beth_walters@jabil.com
 
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